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Russian Energy Minister Alexander Novak said the OPEC+ ministerial committee may discuss another production increase in September. He said the decision would depend on market balances, including supply from Libya.
Possible further output increases signal looser crude supply later in the year, which would weigh on energy costs and biofuel margins.
report.azŞamil ƏlibəyliJul 27, 2018After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.
After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
